Old Normal, Key to New Normal

GNIOT Institute of Management Studies (GIMS) was vested in welcoming Mr Richard John Masilamani (Ex-CEO TIMEX) on the 28th of November 2020 as a Guest Speaker in Chanakya Talk Series. It was an excellent opportunity for the students of PGDM Batch 2020-22 to interact with such experienced strategists and obtain new knowledge.

Sarasvati Vandana officiated at the event, followed by a welcome address by Director Dr A. K. Singh. The guest speaker gave a lecture titled “Old Normal, Key to New Normal.” Mr. Masilamani, correctly linked Chanakya’s arthashastra and education to the current situation. The Arthashastra is a severe manual on Statecraft with a higher purpose and precise decision-making prescriptions based on a good experience.

He shared his own experience and knowledge about the Old Normal Key to the New Normal. He explained old norms, such as the firm’s objectives, the role of customer satisfaction, and the importance of being in one business. He had shed light on the new normal, i.e., a half-truth.

He also talked about his own experience about:

• Social media & Internet: He recommended that every firm set up a comprehensive, Interactive and Responsive website. They should focus on answering queries and responding quickly and effectively to complaints.  

• Information Technology assessment: He suggested that the databases should be regularly updated, and accuracy and reliability of the data should be maintained to reduce the substandard quality of the Information

• Valuation of startups: He stated that our business space is getting occupied with Startups, mainly on digital platforms. Most of them are running in tremendous losses because they are so blind in following New Normal that they forget about Old Normal to establish the roots of the business.He wrapped up the session by stating, “When the data gets entered through Voice, the New Normal will be considered as successful. The Old Normal of earning profits and maximizing overtime is still valid and will not change ever.”